Zambia’s economy to shrink 4.2% in 2020 – finance minister

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LUSAKA (Reuters) – Zambia expects its gross domestic product to shrink by around 4.2% in 2020, more than the the 2.6% contraction forecast by the central bank in May, finance minister Bwalya Ng’andu said on Wednesday.

Sectors including mining, energy, construction, manufacturing, tourism, trade and transport were all expected to record poor performances due to COVID-19, Ng’andu said.

Reporting by Chris Mfula; Editing by Andrew Heavens

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